Yvon Chouinard net worth: Patagonia founder gives away multi-billion company to fight climate crisis × Follow Us Create Notifications New User posted their first comment this is comment text Link Approve Reject & ban Delete Log in Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout SK POP News

Yvon Chouinard net worth Patagonia founder s fortune explored as he gives away multi-billion company to fight climate crisis

By Nikita Nikhil Modified 15 Sep 2022 Follow Us Comment Share Yvon Chouinard founded Patagonia in 1973. (Image via Al Seib/Getty Images) American businessman Yvon Chouinard, the founder of billionaire fashion brand Patagonia, is giving away his entire company to a charity to fight climate change. The 83-year-old philanthropist established the company as a globally successful brand for sportswear, inspired by his passion for rock climbing. As per The New York Times, the company's current net worth is $3 billion. The announcement about Patagonia was made by Yvon Chouinard on the brand's website on September 14. The website also stated that they had changed the company's purpose to "We’re in business to save our home planet" in 2018. Kim Bhasin@KimBhasinPatagonia founder Yvon Chouinard is giving away the company. He and his family have transferred all the company’s voting stock into a trust, with the rest of the shares going to a nonprofit.

Here's the letter from Yvon:78531737Patagonia founder Yvon Chouinard is giving away the company. He and his family have transferred all the company’s voting stock into a trust, with the rest of the shares going to a nonprofit.Here's the letter from Yvon: https://t.co/gPUxcuRItN The note further read: “While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact. One option was to sell Patagonia and donate all the money. But we couldn’t be sure a new owner would maintain our values or keep our team of people around the world employed." The note continued: "Another path was to take the company public. What a disaster that would have been. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality and responsibility. Truth be told, there were no good options available. So, we created our own.” Yvon Chouinard is looking at developing a way to allow the sportswear brand to earn profits whose earnings will benefit environmental activities. The philanthropist is doing this with his wife, Malinda Pennoyer, and two kids, Claire Chouinard and Fletcher Chouinard, and a group of corporate lawyers.

Millionaire Yvon Chouinard founded Patagonia in 1973

Kristine Tompkins@KrisTompkins_Today, my close friend and the founder of @Patagonia, Yvon Chouinard, made history by announcing a bold & visionary plan to protect the future of the company AND the planet that will make Patagonia one of the world’s top environmental funders! #holdfastcollective46280Today, my close friend and the founder of @Patagonia, Yvon Chouinard, made history by announcing a bold & visionary plan to protect the future of the company AND the planet that will make Patagonia one of the world’s top environmental funders! #holdfastcollective https://t.co/4XiOgpXX3a Yvon Chouinard, who was born on November 9, 1938, is a native of Maine who founded Patagonia in 1973. The brand has a yearly retail revenue of $1 billion and according to Celebrity Net Worth, Yvon Chouinard's net worth is $100 million. In his announcement about giving the company away, Chouinard revealed that the fashion apparel's stock will be owned by the Patagonia Purpose Trust and the Holdfast Collective. While the former is a climate-focused charity, the latter is a group of NGOs. The September 14th move will not affect the board members of the company. Ryan Gellert will remain as the Chief Executive Officer of Patagonia and Chouinard family will remain on the board after the founder's increased charitable approach. Mike Sington@MikeSingtonThis is amazing. Rather than selling his company, Yvon Chouinard, the founder of Patagonia, is giving the company away. Valued at $3 billion, it’s going to trusts and nonprofits that will ensure all of its annual profits of $100 million a year will go to combat climate change.1188325This is amazing. Rather than selling his company, Yvon Chouinard, the founder of Patagonia, is giving the company away. Valued at $3 billion, it’s going to trusts and nonprofits that will ensure all of its annual profits of $100 million a year will go to combat climate change. https://t.co/yQnD2Nav7d Yvon Chouinard and his company are known far and wide for their passion for environmental activism and benefiting their employees. The corporation began contributing 1% of its revenues to environmental organisations in the 1980s. According to the corporation, the campaign has generated $140 million in donations for the preservation and rehabilitation of the natural environment. The firm currently sells new and secondhand outdoor wear, camping and fishing equipment, plus food and beverages manufactured from sustainable sources. On the personal front, he married Malinda Pennoyer in 1971, while she was a student at California State University in Fresno. As mentioned earlier, they are parents to two children, Clair and Fletcher. Poll : 0 votes Quick Links More from Sportskeeda Edited by Madhur Dave × Feedback Thank You! Be the first one to comment Follow Us Share Show More Comments GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ Be the first one to comment on this story More from Sportskeeda Fetching more content... 1 Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout No Results Found Get the free App now Manage notifications Popular ‍ Sports (30+) CricketCricket HomeScheduleT20 World CupT20 warm upIND vs SAENG vs PAKAUS vs ENGLegends LeagueECS T10 CroatiaWBBL 2022ECC T10SMAT 2022Bukhatir LeagueNZ T20 Tri-SeriesWomen's Asia Cup 2022ECT10 FootballFootball HomeNewslettersSK Experts ScheduleEPLNations LeagueLa LigaLigue 1Champions LeagueFIFA WCMLS Bundesliga Serie A WWEWWE HomeNewslettersRumor RoundupRAWSmackDownResultsRosterChampionsWWE Crown Jewel 2022PPV ScheduleAEW EsportsEsports HomeMinecraftOverwatch 2RobloxGenshin ImpactFortniteGTAStreamersFree FirePUBGValorantBGMIPop CultureAnimeGaming TechWiki Guides TennisTennis HomeTennis calendarTennis Results TodayATP RankingsWTA RankingsRoger FedererRafael NadalNovak DjokovicSerena Williams MMAMMA HomeUFC NewsONE ChampionshipUFC Fight NightScheduleRankingsResultsUFC Fights TonightONE Championship ResultsONE Championship ScheduleONE Championship Rankings KabaddiKabaddi HomePKL 2022PKL SchedulePKL Points TableKabaddi Rules WikiWiki HomeMinecraft WikiNaruto WikiTikTok WikiYoutube WikiGTA WikiTerraria WikiOne Piece Wiki MoreSportsBasketballIndian FootballNFLMinecraftFormula 1NascarPop CultureCollege FootballHockeyGolfAthleticsBadmintonGymnasticsWrestlingSwimmingTennisShootingBoxingArcheryWinter SportsRobloxFree PicksSkateboardingKho KhoLifestyle LINKS About Us Write For Us Policies Editorial Standards Journalism Awards Fact Check Affiliate Program Careers CSR Privacy Policy Contact Us Edition: English हिन्दी